Kenyan entrepreneur Margaret Nyamumbo who is based in New York City has received an massive investment of Sh44 million for her coffee company.
Margaret Nyamumbo is the founder and CEO of Kahawa 1893, a firm that exports African coffee to America.
The entrepreneur appeared on reality Tv 'Shark Tank' and she convinced one of Shark Tank judges to buy 5 per cent of Kahawa 1893.
Shark Tank is an American reality show were aspiring entrepreneurs from around the world pitch their business models to a panel of investors and persuade them to invest money in their idea.
She told the panel that included Mark Cuban, Emma Grede, Robert Herjavec, Kevin O’Leary and Lori Greiner that she is all about sharing the wealth and “brewing a coffee revolution”.
Emma Grede who convinced Ms Nyamumbo to take the $350,000 (Ksh 44million) she was seeking but for an 8 per cent stake in the business.
Margaret said she wanted to use Kahawa 1893, a coffee company she founded in 2018, to tell the stories of the women of the Gusii highlands of southwestern Kenya, where she was born and raised. She said she wanted to highlight the fact that most of the labor that goes into the small farms that produce one of the world’s most valuable crop comes from women, but most of the proceeds go to their husbands and other owners of land.
"I grew up on my grandfather’s coffee farm in Kenya. We are very proud of the coffee that grows on our soil; unfortunately, farmers don’t always make enough for the delicious coffee that they produce."
